NBB Commends Proposal For Extension of Biodiesel Tax Incentive
USAgNet - 06/19/2019
The National Biodiesel Board publicly thanked House Ways and Means Select Revenue Measures Subcommittee Chairman Mike Thompson (D-CA) for introducing legislation to extend expired tax incentives, including the biodiesel tax incentive. The group
further praised House Committee on Ways & Means Chairman Richard Neal (D-MA) for moving quickly to mark up the legislation this Thursday.
The proposal would provide U.S. biodiesel producers certainty through 2020 and incentivize investment and growth in domestic production capacity.
"Biodiesel and renewable diesel producers across the United States thank Subcommittee Chairman Thompson for proposing a multiyear, forward-looking renewal of the tax incentive," said Kurt Kovarik, NBB’s Vice President of Federal Affairs. "The industry
has been very vocal in asking for policy certainty that has proven successful in supporting industry growth over the years."
NBB continues to work with Congressional champions of the biodiesel industry to highlight the urgency for renewing the tax incentive.
Abby Finkenauer (D-IA), Cheri Bustos (D-IL), Darin LaHood (R-IL), Dave Loebsack (D-IA), and Rosa DeLauro (D-CT), who are among the 53 co-sponsors of the Biodiesel Tax Credit Extension Act of 2019 (HR 2089).